Ride-hailing giant Rapido has joined forces with magicpin to significantly broaden its food delivery platform, Ownly. This strategic move is designed to onboard a greater number of restaurant partners, intensifying its challenge to established players like Zomato and Swiggy within the competitive food delivery market.
Context: The food delivery sector in India is currently dominated by Zomato and Swiggy. Rapido, known primarily for its bike-taxi services, is making a concerted effort to diversify its offerings and capture a larger share of the rapidly growing food delivery market. The partnership with magicpin, a platform known for its discovery and deals, is a key component of this strategy.
Analysis: The collaboration between Rapido and magicpin is a calculated move to leverage each other’s strengths. Rapido brings its existing customer base and operational infrastructure, while magicpin offers its network of restaurant partners and expertise in deals and promotions. This synergy could provide Ownly with a competitive edge by attracting both restaurants and consumers with attractive offers and a wider selection of food options.
Implications: This partnership has several implications. Firstly, it could lead to increased competition in the food delivery market, potentially benefiting consumers through better deals and service. Secondly, it signals Rapido’s ambition to become a major player in the food tech space, diversifying its revenue streams and reducing its reliance on ride-hailing. For Zomato and Swiggy, this means facing a more formidable competitor, which may require them to adapt their strategies to retain market share. The success of Ownly will depend on its ability to effectively integrate magicpin’s network, offer competitive pricing, and ensure reliable delivery services.
Conclusion: Rapido’s partnership with magicpin is a strategic move aimed at disrupting the food delivery market currently dominated by Zomato and Swiggy. By leveraging magicpin’s restaurant network, Ownly is poised to expand its reach and attract more consumers. This development underscores the dynamic nature of the food tech industry and the ongoing battle for market dominance.
Source: Inc42 Media
